Updated May 12, 2025
Luis Sanchez Abarca Secures $2.1M Construction Loan From RBI For Development Site In Miami
1500 Southwest 19th Street
$2,100,000
$326/SF
Building Size
6,425 SF
Asset Type
Development Site
Closing
Apr 10, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 1500 Southwest 19th Street, Miami, covering an area of 6,425 square feet. The financial arrangement includes a loan amount of $2,100,000, classified as a construction loan with a duration of 2 years.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,100,000
- Lender: RBI
- Landlord: Luis Sanchez Abarca
- Broker: Nelson Lopez - LendingwithNelly
The loan is facilitated by lender RBI, with Luis Sanchez Abarca acting as the landlord in this transaction. The representation of the deal is provided by broker Nelson Lopez from LendingwithNelly, ensuring coordination between the parties involved.
On the Map
$2,100,000
$326/SF
Development Site
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Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93